“We’re all trying to make the best decision we can and the council will need time to digest the deal,” said Hansen.

Public scrutiny will also be placed on the private side of the term sheet.

For billionaire Ron Burkle and multimillionaire Mark Mastrov, the arena deal is only one half of their investment. They also have to make a competing offer to buy the Kings, which the Seattle investors value at $525 million.

In the end, it will come down to money and time.

“It’s a tight timeline and I know everybody’s doing their best,” said Hansen.

So is there enough time?

“There’s always that rule to life, you only need as much time as you have sometimes,” he said.

The term sheet will be posted online on the city council website around 1 p.m. Thursday.

Steve anchors the news on CBS13 on the weekends and reports during the week.
He has also worked as a morning anchor/weathercaster at KCOY-TV in Santa Maria, sports director at KVIQ-TV in Eureka, and videographer at KEYT-TV in Santa...